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IHS Markit Expands Reporting Capability with Cappitech Acquisition
As the global demand for regulatory reporting solutions continues to soar amidst a challenging environment, IHS Markit has taken the bull by the horns with its acquisition of Israeli RegTech specialist Cappitech. Financial terms were not disclosed, but it seems as if the deal may have been in the pipeline for a while. Although Cappitech…
Covid Proof: The Future of Onboarding High-Net-Worth Clients
By Hugo Chamberlain, COO, smartKYC. The future of high-net-worth client onboarding has arrived – and it is one well suited for our post-COVID world. Automated and paperless, it enables wealth managers to accelerate acquisition, fully comply with the most stringent KYC regulations and deliver a frictionless start to the beginning of the client relationship. In…
Fenergo Automates Client Onboarding Systems for Mizuho Americas
Mizuho Americas has deployed Fenergo client lifecycle management (CLM) software to automate Know Your Customer (KYC) and Anti-Money Laundering (AML) regulatory processes, digitalise workflows and accelerate client onboarding. The Fenergo implementation replaces manual processes and provides Mizuho Americas with a single, comprehensive view of customers across all business lines. Mizuho Americas’ parent, Mizuho Financial Group,…
Brexit is Here – But Sadly, Equivalence is Not
The UK has finally left the European Union. A trade deal was wrung out at the eleventh hour, allowing the two sides to trade with zero tariffs and quotas, but the financial services industry has been left hanging – with talk of an MoU around the regulation of financial services being reached only by March…
FCA Cracks Down on OMS Reporting Errors: Regulated Firms Pay the Price
By Matt Smith, CEO, SteelEye. Certain Order Management Systems (OMSs) have recently come under scrutiny from the FCA because of quality issues around MiFIR reporting. Firms that heavily rely on their OMS for daily regulatory reporting have been found to consistently over or under report their transactions. The responsibility for accurate reporting rests solely with…
SmartStream Reveals New Brand Identity
SmartStream Technologies, the financial Transaction Lifecycle Management solutions provider, has launched a new corporate brand identity, including an updated logo and website. The new logo includes the infinity symbol, selected to demonstrate the continual evolution of the business, in line with the rapid pace of industry change. CEO Haytham Kaddoura said: “We are proud of…
NICE Actimize Offers Advanced Facial Recognition Through FACEPOINT
NICE Actimize today announced that FACEPOINT, which provides a biometric risk screening engine offering facial recognition technology for advanced KYC and watch list risk screening, has joined its X-Sight Marketplace. FACEPOINT uses facial recognition to disambiguate potential matches, reduce false positive rates and identify emerging threats such as those posed by unnamed persons of interest…
GRI Calls for Strengthened Sustainability Reporting
The Global Reporting Initiative (GRI), the provider of some of the most widely used sustainability reporting standards around the world, has called for strengthened financial reporting that complements sustainability reporting and takes account of the financial risks and opportunities related to a company’s sustainability impacts – with mandatory disclosure to ensure transparency on corporate contributions…
Global Financial Institution Fines for AML, Data Privacy and MiFID Rise 26%
CLM specialist Fenergo has released its annual findings on global financial institution fines which show that for the year to date, penalties have totalled $10.4 billion for non-compliance with AML, KYC, data privacy and MiFID regulations. The total volume of fines levied to financial institutions for these breaches was 198, a year-on-year increase of 141%….
UK’s RegulAItion Wins Singapore FinTech Accelerator
UK-based data platform company RegulAItion has won the Monetary Authority of Singapore (MAS) 2020 Global Fintech Hackcelerator, competing against over 270 submissions from across more than 40 countries. To secure the win, RegulAItion successfully demonstrated how its ground-breaking AIR platform can enable the financial sector to respond to two of its most pressing global challenges…